MAES Luc: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MAES Luc
Largest movements
- Tangible fixed assets -€20,624
down €20,624 (-1.8%), from €1.2m to €1.1m
- Other debts -€20,703
down €20,703 (-1.5%), from €1.4m to €1.4m
- Other operating charges +€2,398
up €2,398 (+175%), from €1,367 to €3,765
- Gross operating margin -€1,001
down €1,001 (-5.9%), from €17,073 to €16,071
- Financial income -€855
down €855 (-72.6%), from €1,178 to €323
- Financial charges -€269
no longer reported in 2025 (was €269)
of which Financial charges: -€180
- Depreciation +€181
up €181 (+0.9%), from €20,443 to €20,624
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,161,993 | €1,132,569 | -€29,424 | -2.5% |
| Fixed assets | 21/28 | €1,153,054 | €1,132,431 | -€20,624 | -1.8% |
| Tangible fixed assets | 22/27 | €1,153,054 | €1,132,431 | -€20,624 | -1.8% |
| Land and buildings | 22 | €1,153,054 | €1,132,431 | -€20,624 | -1.8% |
| Current assets | 29/58 | €8,939 | €139 | -€8,800 | -98.4% |
| Amounts receivable after more than one year | 29 | €8,699 | - | -€8,699 | |
| Trade receivables | 290 | €8,699 | - | -€8,699 | |
| Cash at bank and in hand | 54/58 | €240 | €139 | -€102 | -42.3% |
| Total equity and liabilities | 10/49 | €1,161,993 | €1,132,569 | -€29,424 | -2.5% |
| Equity | 10/15 | -€266,071 | -€274,066 | -€7,995 | -3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €13,393 | €13,393 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €11,534 | €11,534 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€298,056 | -€306,051 | -€7,995 | -2.7% |
| Amounts payable | 17/49 | €1,428,064 | €1,406,635 | -€21,429 | -1.5% |
| Amounts payable within one year | 42/48 | €1,428,064 | €1,406,635 | -€21,429 | -1.5% |
| Trade debts | 44 | €726 | - | -€726 | |
| Suppliers | 440/4 | €726 | - | -€726 | |
| Other amounts payable | 47/48 | €1,427,338 | €1,406,635 | -€20,703 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,443 | €20,624 | +€181 | +0.9% |
| Other operating charges | 640/8 | €1,367 | €3,765 | +€2,398 | +175% |
| Gross operating margin | 9900 | €17,073 | €16,071 | -€1,001 | -5.9% |
| Operating profit (loss) | 9901 | -€4,738 | -€8,318 | -€3,580 | -75.6% |
| Financial income | 75/76B | €1,178 | €323 | -€855 | -72.6% |
| Recurring financial income | 75 | €1,178 | €323 | -€855 | -72.6% |
| Financial charges | 65/66B | €269 | - | -€269 | |
| Recurring financial charges | 65 | €180 | - | -€180 | |
| Non-recurring financial charges | 66B | €89 | - | -€89 | |
| Profit (loss) for the period before taxes | 9903 | -€3,829 | -€7,995 | -€4,166 | -109% |
| Profit (loss) for the period | 9904 | -€3,829 | -€7,995 | -€4,166 | -109% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,829 | -€7,995 | -€4,166 | -109% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.